Israel's Electricity Reform Sees Over 2 Million Citizens Switch Providers

Israel's electricity market reform, described as the largest economic reform since the cellular market liberalization, has surpassed a significant milestone, with over two million citizens now purchasing electricity from private suppliers. This reform allows every consumer in Israel to choose their electricity provider and benefit from discounts ranging from 7% to 20% off the standard electricity tariff. The move is estimated to save households hundreds, and potentially thousands, of shekels annually, depending on supplier offers, usage patterns, and consumption times.

Noga, the company responsible for managing Israel's electricity grid and a key driver of the reform alongside the Ministry of Energy and the Israel Electric Corporation, released updated figures. In August alone, 25,993 households and businesses applied to switch providers. These included 8,180 with basic home meters, 15,536 with smart home meters, and 2,277 with business meters.

To date, a total of 486,478 households and businesses have transitioned from the state-owned Israel Electric Corporation to private suppliers. This cumulative number represents the over two million citizens now benefiting from the competitive market. The reform has also seen the introduction of an additional 1,000 megawatts into the competitive market at the start of the year, expected to further intensify competition and discounts. Additionally, the time required for switching providers has been reduced from 14 days to 7 days.

Energy and Infrastructure Minister Eli Cohen hailed the reform's success, stating, "The numbers speak for themselves, and the great success of the reform proves that this is the biggest reform in the economy since the cellular reform, saving hundreds and thousands of shekels a month for every family." He emphasized the breaking of the Israel Electric Corporation's monopoly and the opening of the electricity market to competition. Cohen encouraged all citizens to compare options, switch providers, and save money, noting that he himself has switched to a private supplier.